Southside Bancshares Announces Board and Officer Changes
Ticker: SBSI · Form: 8-K · Filed: Nov 25, 2024 · CIK: 705432
| Field | Detail |
|---|---|
| Company | Southside Bancshares Inc (SBSI) |
| Form Type | 8-K |
| Filed Date | Nov 25, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.25 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-appointment, director-changes
TL;DR
Southside Bancshares reshuffled its board and exec team on 11/25. Watch for new strategies.
AI Summary
Southside Bancshares, Inc. announced on November 25, 2024, changes in its board of directors and officer appointments. The filing details the departure of certain directors and the election of new ones, alongside the appointment of specific officers and information regarding their compensatory arrangements.
Why It Matters
Changes in a company's board and executive officers can signal shifts in strategy, governance, or operational focus, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and does not indicate any significant financial distress or unexpected events.
Key Players & Entities
- Southside Bancshares, Inc. (company) — Registrant
- Texas (location) — State of Incorporation
- November 25, 2024 (date) — Date of Report
FAQ
What specific roles have been affected by the officer appointments?
The filing indicates appointments of certain officers and details their compensatory arrangements, but does not specify the exact roles in this summary.
Were there any specific reasons cited for the departure of directors?
The filing mentions the departure of directors but does not provide specific reasons for their departures in the provided text.
What is the primary business of Southside Bancshares, Inc.?
Southside Bancshares, Inc. is classified under 'State Commercial Banks' with SIC code 6022.
When was Southside Bancshares, Inc. incorporated?
The company was incorporated in Texas.
What is the principal executive office address for Southside Bancshares, Inc.?
The principal executive offices are located at 1201 S. Beckham Avenue, Tyler, TX 75701.
Filing Stats: 476 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-11-25 17:22:58
Key Financial Figures
- $1.25 — ange on which registered Common stock, $1.25 par value SBSI New York Stock Exchange
Filing Documents
- sbsi-20241125.htm (8-K) — 26KB
- 0000705432-24-000259.txt ( ) — 146KB
- sbsi-20241125.xsd (EX-101.SCH) — 2KB
- sbsi-20241125_lab.xml (EX-101.LAB) — 21KB
- sbsi-20241125_pre.xml (EX-101.PRE) — 12KB
- sbsi-20241125_htm.xml (XML) — 3KB
From the Filing
sbsi-20241125 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 November 25, 2024 Date of Report (Date of earliest event reported) Southside Bancshares, Inc. (Exact Name of Registrant as Specified in its Charter) Texas 000-12247 75-1848732 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 1201 S. Beckham Avenue, Tyler, TX 75701 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: ( 903 ) 531-7111 NA (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities Registered Pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common stock, $1.25 par value SBSI New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 25, 2024, George H. (Trey) Henderson, III, a member of the Board of Directors of Southside Bancshares, Inc. (the "Company"), notified the Company of his decision to not stand for re-election at the Company's next annual shareholder meeting in May 2025 (the "2025 Annual Meeting"). Mr. Henderson will continue to serve as a director of the Company until the expiration of his term at the 2025 Annual Meeting. Mr. Henderson was appointed to the Company's Board of Directors in 2018. Mr. Henderson did not notify the Company of any disagreement with the Company on any matter relating to its operations, policies, or practices. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Southside Bancshares, Inc. Date: November 25, 2024 By: /s/ JULIE N. SHAMBURGER Julie N. Shamburger, CPA Chief Financial Officer (Principal Financial Officer)